Commerce Bank Cuts Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Commerce Bank decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 40,189 shares of the investment management company’s stock after selling 297 shares during the period. Commerce Bank’s holdings in The Goldman Sachs Group were worth $19,898,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC grew its position in The Goldman Sachs Group by 407.2% in the first quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock valued at $175,000 after acquiring an additional 338 shares in the last quarter. Shell Asset Management Co. acquired a new stake in The Goldman Sachs Group in the first quarter valued at approximately $377,000. EntryPoint Capital LLC acquired a new stake in The Goldman Sachs Group in the first quarter valued at approximately $101,000. CreativeOne Wealth LLC grew its position in The Goldman Sachs Group by 15.2% in the first quarter. CreativeOne Wealth LLC now owns 3,873 shares of the investment management company’s stock valued at $1,618,000 after acquiring an additional 510 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its position in The Goldman Sachs Group by 25.5% in the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after acquiring an additional 2,442 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GS shares. UBS Group increased their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays increased their price objective on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Finally, Bank of America raised their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $535.75.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the transaction, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock worth $6,656,119 over the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Performance

GS stock opened at $581.93 on Thursday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $182.67 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 0.86 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 1 year low of $334.55 and a 1 year high of $607.15. The stock’s fifty day moving average is $524.58 and its two-hundred day moving average is $491.95.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the previous year, the business earned $5.47 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.